Section |
Who is liable and the Civil/Criminal liability involved |
53- Prohibition on issue of shares at discount |
- Company-Fine- Not less than Rs. 1 lakh and may extend to Rs. 5 lakhs
- Officer in default- Maximum imprisonment of 6 months or Fine- Not less than Rs. 1 lakh and may extend to Rs. 5 lakhs or with both.
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68(11)- Power of Company to purchase its own securities |
- Company-Fine- Not less than Rs. 1 lakh and may extend to Rs. 3 lakhs
- Officer in default- Maximum imprisonment of 3 years or Fine- Not less than Rs. 1 lakh and may extend to Rs. 3 lakhs or with both.
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71(11)- Debentures |
- Officer in default- Maximum imprisonment of 3 years or Fine- Not less than Rs. 2 lakh and may extend to Rs. 5 lakhs or with both.
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92(5)- Annual return |
- Company-Fine- Not less than Rs. 50,000 Thousand and may extend to Rs. 5 lakhs
- Officer in default- Maximum imprisonment of six months or Fine- Not less than Rs. 50,000 Thousand and may extend to Rs. 5 lakhs or with both.
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118(12)- Minutes of proceedings of general meeting, meeting of Board of Directors and other meeting and resolutions passed by postal ballot. |
- Any person found guilty of tampering with the minutes- Maximum imprisonment for 2 years and Fine- Not less than Rs. 25,000 but which may extend to Rs. 1 lakh
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128(6)- Books of account, etc., to be kept by Company |
- Officer in default- Maximum imprisonment of 1 year or Fine- Not less than Rs. 50,000 and may extend to Rs. 5 lakhs or with both.
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129(7)- Financial statement |
- Officer in default- Maximum imprisonment of 1 year or Fine- Not less than Rs. 50,000 and may extend to Rs. 5 lakhs or with both.
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134- Financial statement, Board’s report, etc |
- Company-Fine- Not less than Rs. 50,000 and may extend to Rs.25 lakhs
- Officer in default- Maximum imprisonment of 3 years or Fine- Not less than Rs. 50,000 and may extend to Rs. 5 lakhs or with both.
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167- Vacation of office of director |
- Director – Maximum imprisonment for 1 year or Fine- Not be less than Rs. 1 lakh and may extend to Rs. 5 lakhs or with both.
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185(2)- Loan to directors, etc. |
- Company-Fine- Not less than Rs. 5 lakhs and may extend to Rs.25 lakhs
- Officer in default- Maximum imprisonment of 6 months or Fine- Not less than Rs. 5 lakhs and may extend to Rs. 25 lakhs or with both.
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186(13) Loan and investment by Company |
- Company-Fine- Not less than Rs.25,000 and may extend to Rs. 5 lakhs
- Officer in default- Maximum imprisonment of 2 years or Fine- Not less than Rs. 25,000 and may extend to Rs. 1 lakh or with both.
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188(5)- Related party transactions |
- In case of unlisted Company, be punishable with fine which shall not be less than 25,000 rupees but which may extend to 5 lakh rupees
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57- Punishment for personation of shareholder |
- Such person in default- Minimum 1 year to Maximum 3 years imprisonment or Fine- Not less than Rs. 1 lakh and may extend to Rs. 5 lakhs.
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58(6)- Refusal of registration and appeal against refusal |
- Such person in default- Minimum 1 year to Maximum 3 years imprisonment or Fine- Not less than Rs. 1 lakh and may extend to Rs. 5 lakhs.
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59(5)- Rectification of register of members |
- Company-Fine- Not less than Rs.1 lakh and may extend to Rs.5 lakhs
- Officer in default- Maximum imprisonment of 1 years or Fine- Not less than Rs. 1 lakh and may extend to Rs. 3 lakhs or with both.
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Chapter-IV- Registration of Charges |
- Company-Fine- Not less than Rs.1 lakh and may extend to Rs.10 lakhs
- Officer in default- Maximum imprisonment of six months or Fine- Not less than Rs. 25,000 and may extend to Rs. 1 lakh or with both.
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137(3)- Copy of financial statement to be filed with Registrar |
- Company-Fine- Not less than Rs.1000 for every day in default but not more than 10 lakhs
- Officer in default- Maximum imprisonment of 6 months or Fine- Not less than Rs. 1 lakh and may extend to Rs. 5 lakhs or with both.
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182(4)- Prohibitions and restrictions regarding political contributions. |
- Company-Fine- 5 times of the amount of contribution in contravention
- Officer in default- Maximum imprisonment of 6 months and Fine- 5 times of the amount of contribution in contravention
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184(4)- Disclosure of interest by director |
- Such person in default- Minimum 1 year imprisonment or Fine- Not less than Rs. 50,000 and may extend to Rs. 1 lakh or both.
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187(4)- Investments of Company to be held in its own name |
- Company-Fine- Not less than Rs.25,000 and may extend to Rs.25 lakhs
- Officer in default- Maximum imprisonment of 6 months or Fine- Not less than Rs. 25,000 and may extend to Rs. 1 lakh or with both
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447- Punishment for fraud |
- Any person who is found to be guilty of fraud- Maximum imprisonment of 6 months may extend to 10 years
- Such person also liable to fine which may extent to 3 times the amount involved.
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